Tetra Tech Correlations
| TTEK Stock | USD 207.75 3.49 1.71% |
The correlation of Tetra Tech is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tetra Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tetra Tech moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between Tetra Tech and NYA is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tetra Tech and NYA in the same portfolio, assuming nothing else is changed.
Tetra |
The ability to find closely correlated positions to Tetra Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tetra Tech when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Tetra Tech - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Tetra Tech to buy it.
Moving together with Tetra Stock
Moving against Tetra Stock
| 0.79 | FORR | Forrester Research | PairCorr |
| 0.71 | HDSN | Hudson Technologies | PairCorr |
| 0.69 | LNZA | LanzaTech Global Financial Report 20th of May 2024 | PairCorr |
| 0.69 | PYCR | Paycor HCM Financial Report 8th of May 2024 | PairCorr |
| 0.53 | MATW | Matthews International Fiscal Year End 21st of November 2024 | PairCorr |
| 0.51 | BTM | Bitcoin Depot Symbol Change | PairCorr |
| 0.47 | ACU | Acme United | PairCorr |
Related Correlations Analysis
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Tetra Stock performing well and Tetra Tech Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Tetra Tech's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NTIP | 1.43 | (0.24) | 0.00 | (0.52) | 0.00 | 2.91 | 9.32 | |||
| CVEO | 1.45 | 0.10 | 0.04 | 0.19 | 2.03 | 3.70 | 12.68 | |||
| MMS | 0.99 | (0.03) | (0.01) | 0.04 | 1.20 | 2.25 | 7.92 | |||
| CBZ | 1.22 | 0.11 | 0.08 | 0.13 | 1.77 | 2.18 | 12.35 | |||
| FA | 1.12 | (0.08) | (0.04) | 0.00 | 1.74 | 2.79 | 9.83 | |||
| CASS | 1.35 | (0.04) | 0.00 | 0.04 | 1.98 | 2.84 | 16.34 | |||
| DPUI | 17.16 | 7.41 | 0.00 | 2.72 | 0.00 | 50.00 | 450.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Tetra Tech without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Tetra Tech Corporate Executives
Elected by the shareholders, the Tetra Tech's board of directors comprises two types of representatives: Tetra Tech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tetra. The board's role is to monitor Tetra Tech's management team and ensure that shareholders' interests are well served. Tetra Tech's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Tetra Tech's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Steven Burdick | CFO, Executive VP and Treasurer | Profile |
Already Invested in Tetra Tech?
The danger of trading Tetra Tech is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Tetra Tech is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Tetra Tech. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Tetra Tech is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Tetra Tech is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Tetra Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Tetra Tech Stock. Highlighted below are key reports to facilitate an investment decision about Tetra Tech Stock: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tetra Tech. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income. For more information on how to buy Tetra Stock please use our How to buy in Tetra Stock guide.Note that the Tetra Tech information on this page should be used as a complementary analysis to other Tetra Tech's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Complementary Tools for Tetra Stock analysis
When running Tetra Tech's price analysis, check to measure Tetra Tech's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Tetra Tech is operating at the current time. Most of Tetra Tech's value examination focuses on studying past and present price action to predict the probability of Tetra Tech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tetra Tech's price. Additionally, you may evaluate how the addition of Tetra Tech to your portfolios can decrease your overall portfolio volatility.
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Is Tetra Tech's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Tetra Tech. If investors know Tetra will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Tetra Tech listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.775 | Dividend Share 1.04 | Earnings Share 4.92 | Revenue Per Share 77.119 | Quarterly Revenue Growth 0.086 |
The market value of Tetra Tech is measured differently than its book value, which is the value of Tetra that is recorded on the company's balance sheet. Investors also form their own opinion of Tetra Tech's value that differs from its market value or its book value, called intrinsic value, which is Tetra Tech's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Tetra Tech's market value can be influenced by many factors that don't directly affect Tetra Tech's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Tetra Tech's value and its price as these two are different measures arrived at by different means. Investors typically determine if Tetra Tech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Tetra Tech's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.